Thread regarding CVS layoffs

Cordavis

I just saw news today about CVS’s Cordavis, a “New business that will bring high quality biosimilar products to market with goal of reducing dr-g spend and ensuring access to affordable medications.”

Is this why they laid off 5,000 people and our leadership over our departments have been giving very vague and unhelpful “updates” through email and through any meetings where they pretend to tell us “what’s next?”

Or is this just how giant corps do things- take big risks and some of them stick and others don’t and we pretend CEOs and VPs are genius but really they just know how to make themselves sound smart.

If there’s one thing I’ve learned this week, it’s that the highest level people in this company don’t really know what they’re doing.

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| 1981 views | | 9 replies (last August 29, 2023) | Reply
Post ID: @OP+1ogHc1Rz

9 replies (most recent on top)

Another waste of money that mo--nic leaders will sc--w up. Prem is only interested in selling his options as fast as possible.

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Post ID: @5hlm+1ogHc1Rz

Curious whether CVS does any R&D? I haven't seen any evidence of it. If they decide to adopt some shiny new tech they seem to have a third party do the R&D part. Thought leaders would have advanced R&D capability and be working on the thing after the shiny thing everyone's focused on at the moment.

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Post ID: @3shu+1ogHc1Rz

Just another cute purchase that management has no idea how to integrate into the business.

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Post ID: @3zue+1ogHc1Rz

It falls inline with their home health idealiogy. The NHS is for pushing for biosimilars. (For we not thee, lol) but seriously, I am hoping for a miracle, cancer cures! Good luck,Everyone! It's crazy times,no doubt. Keep investing and loving yourself

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Post ID: @1hwe+1ogHc1Rz

Karen said herself, "We're behind." But I don't know any CEO that would be successful in the mindset of "we're ahead" regardless. You should always be thinking you're behind because then you'd always be working to get ahead, so that might be some psychology at play.

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Post ID: @cks+1ogHc1Rz

Not bad for CVS. Only 6 years behind the curve....

"The U.S. Food and Dr-g Administration approved the first interchangeable biosimilar product to treat certain inflammatory diseases. Cyltezo (adalimumab-adbm), originally approved in August 2017, is both biosimilar to, and interchangeable with (may be substituted for), its reference product Humira (adalimumab) for Cyltezo’s approved uses."

https://www.fda.gov/news-events/press-announcements/fda-approves-cyltezo-first-interchangeable-biosimilar-humira

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Post ID: @lup+1ogHc1Rz

This will be ended quickly, when there is no easy money involved and probably everyone involved.

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Post ID: @sfj+1ogHc1Rz

This business action is likely a response California announcing earlier that they're investing in a similar initiative of creating insulins in-house using recombinant DNA technology, competing with dr-g manufacturers and lower cost. Verticle integration of dr-g manufacturing would reduce spend by simplifying the supply chain and cutting out the middle man.

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Post ID: @pnn+1ogHc1Rz

I give it a year before this product is shelved for good.

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Post ID: @xtv+1ogHc1Rz

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